RAD - "Revenue Allocation District"

[Chris]

Below is a link to a presentation that was developed by the JCRA to explain the concept of a "RAD" or Revenue Allocation District. The RAD "concept" is not currently part of the redevelopment plan, but essentially a RAD would allow the city to issue bonds to raise capital for improvements within the district...the bonds would be secured by increased revenues coming out of the district...the revenues could result from increased PILOT fees or tax revenues.

Please note...before a RAD could even be implemented in Journal Square there is NJ State Legislation that would need to be approved, currently RADs can only be used for Areas in Need of Redevelopment...currently Journal Square is an Area in Need of Rehabilitation.

Have a look at the presentation, there's some interesting stuff here:

JCRA RAD Presentation January 9, 2009.pdf